The S&P 500 has fallen more than 10 percent from a closing high on April 23, putting the benchmark index into correction territory.
Large-cap liquid holdings, including Microsoft Corp (MSFT.O) and McDonald's Corp (MCD.N), led the Dow lower as the software giant's stock dropped 4.1 percent to $25.01 and the fast-food restaurant operator lost 2.7 percent to $66.01. At the same time, Apple Inc (AAPL.O), which shed 0.5 percent to $244.11, managed to surpass Microsoft to become the second- largest company in market cap behind Exxon Mobil Corp (XOM.N).
The Dow Jones industrial average .DJI dropped 69.30 points, or 0.69 percent, to 9,974.45. The Standard & Poor's 500 Index .SPX fell 6.08 points, or 0.57 percent, to 1,067.95. The Nasdaq Composite Index .IXIC lost 15.07 points, or 0.68 percent, to 2,195.88.
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